Amazon.com AMZN, the e-commerce and cloud-computing giant priced at $259.14, received a fresh scoreboard for the cloud war after Microsoft disclosed $29.4 billion in quarterly Azure revenue. AWS generated $42.2 billion. Amazon’s lead: a crushing $12.8 billion.

Amazon’s second-quarter results packed more firepower. AWS revenue jumped 37%, while operating income reached $16.6 billion. Amazon produced $200.6 billion in total revenue and plans to unleash approximately $220 billion in capital spending during 2026. This is not cautious expansion. It is a full-scale infrastructure offensive.

AWS delivered about 43.5% more quarterly revenue than Azure and converted 39.3% of sales into operating profit. Amazon’s $259.14 share price sits 4.84% above its $247.18 GF Value estimate, showing that some cloud dominance is already priced in. The next test is brutal but simple: keep AWS growing without letting the construction bill eat the payoff.